ECB governing council member Pierre Wunsch has defended the controversial concept of market neutrality, despite evidence of substantial carbon bias in ECB corporate bond purchases.
An ECB paper says regulators should consider tougher supervision of finance firms to ensure they are prepared for the growing risks of climate litigation.
The climate crisis and global stagflation, gender diversity’s effect on emissions, TNFD developments, the Bank of Japan’s green lending facility and more from this week in green central banking.
Communities rallied outside central banks around the world to demand they take immediate steps to address the risks posed by the climate crisis.
A new legal analysis commissioned by Greenpeace found that central banks in Europe, including the ECB, are exposed to potential litigation for failing to include climate criteria in their monetary policy decisions.
Campaigners want the Belgian National Bank to give up its “dogmas” on ‘market neutrality’, and support the removal of high-emission activities from the ECB’s balance sheet.
The Belgian National Bank (BNB) is being sued for failing to protect environmental and human rights when purchasing bonds from companies contributing to the climate crisis. Environmental advocacy group ClientEarth filed the landmark legal action in Brussels last week, challenging …
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